Examine the graph above showing information regarding international trade of services in 2015 and answer each of the following questions - Leaving Cert Geography - Question A - 2017
Question A
Examine the graph above showing information regarding international trade of services in 2015 and answer each of the following questions.
(i) Which two countries ha... show full transcript
Worked Solution & Example Answer:Examine the graph above showing information regarding international trade of services in 2015 and answer each of the following questions - Leaving Cert Geography - Question A - 2017
Step 1
Which two countries had the highest value of services exported?
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Answer
The United States and the United Kingdom had the highest value of services exported, as shown in the graph.
Step 2
Calculate the difference (in $) between the value of services exported from China and the value of services exported from the United States.
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Answer
The value of services exported from the United States is approximately 800billion,whileChina′sservicesexportsarearound400 billion. Thus, the difference is:
800billion−400 billion = 400billion.
Step 3
Name two countries with a trade surplus.
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Answer
The two countries with a trade surplus are China and the United States, as indicated by their higher exports compared to imports.
Step 4
Explain briefly one disadvantage of a trade deficit.
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One disadvantage of a trade deficit is that it can lead to increased borrowing from foreign countries, which may result in higher debt levels and economic vulnerability.
Step 5
Name two services exported from Ireland.
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Answer
Two services exported from Ireland include IT services and financial services.
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